Examples of Conduit Administrator in a sentence
All covenants, agreements, representations and warranties made or furnished pursuant hereto by the Conduit and the Conduit Administrator shall bind and inure to the benefit of any successors or assigns of the Department and shall survive with respect to each such Putable Loan.
Each of the Conduit and the Conduit Administrator shall provide all reasonable assistance necessary for the Department to resolve account problems raised by any Borrower, the Guarantor or the Secretary provided such account problems are attributable to or are alleged to be attributable to (a) an event occurring during the period after the related Loan was sold pursuant to a Purchase Agreement, or (b) a payment made or alleged to have been made to the Conduit or the Conduit Administrator.
The Department hereby acknowledges that the Conduit, the Conduit Administrator and certain Sellers have executed Purchase Agreements in reliance on the provisions of the Original Amended and Restated Put Agreement that were in effect prior to the date of this Agreement.
To the extent any provision of this Agreement requires approval or consent of the Department, the Department agrees to use commercially reasonable efforts to respond to any related request for such approval or consent within five (5) Business Days thereof and, if such approval or consent is granted by the Department, such approval or consent will be delivered in writing to the Conduit Administrator.
Within two (2) Business Days following the date of receipt of any such amounts identified to the Conduit Administrator as relating to any such Loan, the Conduit Administrator shall remit to the Department an amount equal to any such payments along with a listing on a form provided by the Department identifying the Loans with respect to which such payments were made, the amount of each such payment and the date each such payment was received.
For the avoidance of doubt, the Conduit Administrator shall have no obligation to pay from its own funds any amount required to be paid by the Conduit hereunder.
Such report must be available for general use and not contain restricted use language and shall include among other things, the amount of proceeds received by the Conduit Administrator in connection with this Agreement and the use of such proceeds.
If such transfer and assignment is deemed to be a pledge to secure a loan and not a sale, each of the Conduit and the Conduit Administrator consents to the Department hypothecating and transferring such security interest in favor of Department’s successors or assigns.
The Conduit Administrator shall be entitled to reimbursement for the expense of such opinion from the Conduit; provided that the failure to obtain any such reimbursement shall not excuse the Conduit Administrator from delivering any such opinion.
On the Put Date, the Department shall pay to the Conduit Administrator on behalf of the Conduit the Put Price by electronic transfer in funds available on such Business Day to the applicable Collection Accounts.